Itreasury
Hello! I purchased a a series I savings bond and I thought it was a 6 month platform… on my login it says it matures in October 1 , 2052…I’ll be dead????????????. What am I missing??? Thx a bunch! Karen (it does say something about purchase schedule “none”).
Terry Says
The bond won’t “mature” for 30 years– but every 6 months the rate will change based on inflation. You MUST hold it for at least one year. And there is a 3-months loss of interest penalty if you cash it in before 5 years. After that, you can cash it in at any time–paying taxes on all the accumulated interest.
And if you anticipate dying during the holding period, you might want to “add a beneficiary” to your bonds.
Here are the instructions, right from the TreasuryDirect website:
Adding a secondary owner or beneficiary to securities registered in single ownership form is simple in TreasuryDirect. You can edit securities being held in Current Holdings; however, you cannot edit savings bonds held in your Gift Box. Securities in a Conversion Linked account (CLA) must first be transferred to a primary or another linked account in order to add a secondary owner.
Your electronic savings bonds and Treasury marketable securities may be registered in your name alone, your name with a secondary owner, or your name with a beneficiary. Each registrant’s taxpayer identification number must be shown. Note: Registrations in entity accounts may not name a secondary owner or beneficiary. All securities in an entity account carry a registration identical to the entity account name.
To add a secondary owner or beneficiary to your securities registered in single ownership form:
Log into your primary TreasuryDirect® account.
Click the ManageDirect tab at the top of the page.
Under the heading Manage My Securities click “Edit” a registration.
On the Edit Security Registration page, choose the security type you want to edit and click “Submit”.
On the Summary page, choose the security or securities you wish to edit and click “Select” (you may edit up to 50 securities to the same registration).
On the Detail page, select the registration containing the secondary owner or beneficiary you desire from the drop-down box. (If you’ve never created the registration, you can do so by clicking “Add New Registration”. Once you’ve created the new registration, the system will bring you back to the Detail page where you’ll find the new registration listed in the drop-down box.) Note: Entity accounts may only have one registration. All securities in an entity account carry a registration identical to the entity account name.
Once you’ve selected the desired registration, click “Submit” to complete the change in registration for the security.
